Eye Allergy Treatment Market USD 6845.3 Million Hike in Revenues Dominated By Novartis AG, Pfizer Inc. During 2019-2023
May 10, 2019
Eye Allergy Treatment Market estimated to be valued at USD 2342.16 million by 2023 and expected to register CAGR of 5.30% during the forecast period. Global Eye Allergy Treatment Market Report: by Type (Vernal Keratoconjunctivitis, Atopic Keratoconjunctivitis, & Contact Allergic Conjunctivitis), Treatment, and End User.
Pune, Maharashtra - May 10, 2019 /MarketersMedia/ —
Medication segment accounted for the largest market share. It has been projected to grow at the highest CAGR due to its effectiveness for the treatment of eye allergy. Moreover, with a lot of options available in the market, patients find medications much more acceptable in most cases. The wide acceptance of artificial tear as a first-line treatment option for eye allergy is driving the market.
Seasonal and perennial allergic conjunctivitis segment by type accounted to be the largest shareholder. Its large market share is due to its high prevalence and rising causes that lead to allergic conjunctivitis such as seasonal and perennial allergic conjunctivitis.
However, the only bottleneck in a growth trajectory of the global eye allergy treatment market is the threat of side-effects of certain eye allergy treatments and lack of awareness among the people. Nevertheless, constant advancements in the field of treatment of eye allergies to treat patients of every age are propelling the growth of the market.
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Global Eye Allergy Treatment Market - Competitive Analysis
There are plenty of large and small market players which operate in this market:
ALLERGAN (Republic of Ireland)
Johnson & Johnson Vision Care, Inc. (US)
Merck & Co., Inc. (US)
Novartis AG (Switzerland)
Pfizer Inc. (US)
Regeneron Pharmaceuticals, Inc. (US)
Hoffmann-La Roche Ltd (Switzerland)
Santen Pharmaceutical Co., Ltd. (Japan)
Valeant (Canada
Shire (Republic of Ireland)
Industry News:
In July 2018
Aptar Pharma, a leader in innovative drug delivery system, has announced the approval of its preservative-free multidose ophthalmic squeeze dispenser which will be used for Baush+Lomb’s Livofree multidose, an anti-allergy treatment solution. The introduction of this preservative-free dispenser is one of the initiatives taken by Aptar Pharma for improving patient safety and product integrity.
Eye Allergy Treatment Market - Segmentation
The Global Eye Allergy Treatment Market has been segmented on the basis of type, treatment, and end-users. Based on type, the eye allergy treatment market is segmented into seasonal and perennial allergic conjunctivitis, atopic keratoconjunctivitis, vernal keratoconjunctivitis, contact allergic conjunctivitis, giant papillary conjunctivitis, and others. The vernal keratoconjunctivitis segment includes palpebral, limbal, corneal, and others.
Based on treatment, the global eye allergy market is segmented into medication, allergy shots (immunotherapy), and others. Medication includes artificial tears, decongestants, oral antihistamines, antihistamine/mast-cell stabilizers, corticosteroids. The decongestants segment is sub-segmented into with antihistamines and without antihistamines. The sub-segments of allergy shots (immunotherapy) segment include subcutaneous immunotherapy treatment (SCIT) and sublingual immunotherapy treatment (SLIT).
Based on end-users, the global eye allergy market is segmented into eye hospitals and clinics, medical institutes, research centers, and others.
Eye Allergy Treatment Market - Regional Analysis
The Global Eye Allergy Treatment Market has been geographically segmented into four major regions such as Americas, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, Americas account for the largest market share in the global eye allergy treatment market due to the high investment for research and development by the pharmaceutical companies in this region and well-formed regulatory framework for the launch of new drugs and medication in the market.
The Eye Allergy Treatment Market in the Europe region is driven by the increased healthcare expenditure, well-developed healthcare infrastructure, and increased incidences of eye allergy in this region. Whereas, the Asia Pacific region is projecting the fastest growth of the eye allergy treatment market owing to the increasing awareness among the individuals, the rapid development of healthcare sector, and increasing adoption of advanced technology in the production line.
The eye allergy treatment market in the Middle East and Africa is projecting slower growth as compared to the other regions in the global eye allergy treatment market due to the negligence and lack of awareness regarding eye allergies in the underdeveloped countries of this region.
Key Findings:
Global Eye Allergy Treatment Market is projected to reach over 2342.16 million by 2023 with 5.30% CAGR during the review period of 2018 to 2023
Asia-Pacific accounted for the largest share due to the presence of a huge patient population, rapid development in technology, and the presence of huge opportunities for the development of the market drive the growth of the eye allergy treatment market in Asia-Pacific.
The medication segment is projected to value 1860.78 million in 2023. Medications are further segmented into artificial tears, decongestants, oral antihistamines, antihistamine/mast cell stabilizers, and corticosteroids.
Some of the players operating in the eye allergy treatment market are Allergan Plc (Ireland), Johnson & Johnson Services Inc, Novartis AG, Bausch Health (Valeant Pharmaceuticals International Inc.), Santen Pharmaceutical Co. Ltd, Teva Pharmaceutical Industries Ltd among other.
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